China Three Gorges takes control of 3 energy businesses in Brazil

Before the recent acquisitions, China Three Gorges Brazil Energy had interests in three hydropower plants and 11 wind farms in eight states of Brazil.

The sales of hydroelectric plants still depend on the approval of the Brazilian Administrative Council for Economic Defense (CADE), National Electric Energy Agency (ANEEL) and Chinese regulatory authorities.

Capital raised through the divestment of power assets will be used by Triunfo to leverage and improve its financial liquidity.

The deals are another case of cooperation between China's and Brazil's energy sectors.

In May 2013, the State Grid Corp of China took a stake in seven power-transmission projects in Brazil. In February 2014, China's State Grid also won rights to build power lines to the huge Belo Monte dam in Brazil's Amazon.

In August 2013, China's state-owned energy and chemical company Sinochem signed a definitive agreement with Brazil's state oil company Petrobras to buy a 35 percent stake in deep-water block BC-10 from the latter.

China National Offshore Oil Corp and China National Petroleum Corp have been successful in their bids for mining in Brazil's deep-water reserves.

Brazil is China's largest trading partner in Latin America, while China has been Brazil's largest trading partner for six years in a row. Flourishing Chinese enterprises are experiencing enhanced ties with Brazil.